What if building long-term wealth in real estate was less about picking properties and more about constructing the right portfolio strategy?In this episode of Executive Connect, Melissa Aarskaug sits down with veteran real estate investor, brokerage founder, and capital allocator Lon Welsh to unpack what it really takes to build durable wealth through real estate across market cycles. From scaling one of Colorado’s largest independent brokerages to launching Ironton Capital and raising nearly $100 million for passive investors, Lon shares the strategic thinking behind portfolio construction, diversification, and risk management that most investors never learn.This conversation goes beyond transactions and tactics. It explores how timing, diversification, sponsor selection, and market cycles shape long-term outcomes, and why passive investing can offer stability, scale, and peace of mind when done correctly.What You Will LearnThe difference between buying properties and building a real estate portfolioActive versus passive real estate investing and who each approach fits bestWhy diversification across markets, asset types, and sponsors mattersHow market timing impacts returns more than most people realizeThe biggest mistakes passive investors make and how to avoid themWhat to look for when vetting sponsors and investment opportunitiesHow to think about real estate as a long-term wealth strategy, not a transactionEpisode highlights:(01:01) Lon Welsh's background and building a real estate ecosystem(02:05) From corporate finance to full time real estate investing(03:25) Buying properties versus constructing a portfolio(04:10) Active investing versus passive investing explained(05:24) Why concentrating in one market increases risk(06:16) Asset type diversification and renovation strategies(07:12) Real world example of portfolio diversification during hurricanes(08:23) Scaling a brokerage to 750 agents and billions in sales(09:08) Choosing the right market and business model to scale(10:28) Using data and analytics to gain an unfair advantage(12:12) Local investing versus investing across states(14:06) What passive real estate investing actually looks like(15:07) Understanding sponsor track records and market cycles(16:20) When timing creates outsized returns and when it does not(17:02) Why diversification protects investors from total loss(18:50) Lessons learned from early investing mistakes(19:54) Acquisitions, culture fit, and scaling through M&A(21:36) How to evaluate culture before buying a business(25:18) Building resilience through market downturns(26:49) Why fundamentals beat fear during volatile cycles(27:43) Adapting strategy across economic phases(30:24) Transactional versus relationship driven business models(32:48) Why diversification matters more in uncertain markets(33:05) Free resources for learning passive real estate investing(35:01) National real estate and economic trends explained(36:01) Final thoughts on building wealth that lastsLon Welsh is a seasoned real estate investor, author, and founder of Ironton Capital. He has built and sold multiple real estate companies, including Colorado’s largest independent brokerage, and has spent decades helping investors construct diversified real estate portfolios designed to perform across market cycles.Connect with Lon Welshhttps://irontoncapital.comConnect with Executive Connect:Website → https://www.executiveconnectexperience.com/YouTube → https://www.youtube.com/@ExecutiveConnectNewsletter → https://www.executiveconnectexperience.com/join/LinkedIn → https://www.linkedin.com/company/my-executive-connect/🎧 Subscribe to the Podcast:Apple Podcasts → https://podcasts.apple.com/ro/podcast/the-executive-connect-podcast/id1816477167Spotify → https://open.spotify.com/show/1zggDnblvD9Pa0Nn37o1TD?si=JVvZfm5rTryxJZh6nlO6yQIf you like the content, please do share, subscribe and like the channel. Tune in to the complete episode on the channel under podcasts.For more visit - executiveconnectpodcast.com#executive #leadershipdevelopment #team #cxos #ceo
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